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Gold/Mining/Energy : Canadian Warrants Only
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To: PaperPerson who wrote (4426)5/26/2008 3:27:36 AM
From: onepath  Read Replies (1) of 23102
 
Going thru a similar process with BNK.WT.A and BNK which is splitting.This is how BNK is handling it and I would expect a similar type solution with CXX because there is no reason not to treat both common shareholders and warrant holders equitable in this type of situation.

< Pursuant to the plan, Bankers' shareholders will receive shares of BNK-US on a basis that is proportional to their interest in Bankers. Every Bankers shareholder will receive one share in BNK-US for every 10 common shares held in Bankers, as at the record date to be set for early July. With respect to outstanding Bankers' common share purchase warrants, their respective exercise price will be reduced in accordance with the terms of the applicable common share purchase warrant indenture by an amount on a per-share basis to reflect the fair market value of the U.S. assets that are being split into BNK-US. All such warrants, as adjusted, will remain exercisable only into common shares of Bankers. In the event a warrantholder wishes to participate in the plan and receive common shares of BNK-US, a warrantholder will need to exercise his/her warrants prior to the effective date of the plan to acquire Bankers common shares. Such acquired Bankers common shares will participate in the plan on the same basis as all other Bankers common shares .
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